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Case-Shiller index

U.S. home prices rose at a healthy pace in December compared with a year ago, driven higher by rising sales and a smaller supply of available homes. The Standard &amp; Poor's/Case-Shiller 20-city home price index rose 6.8 percent year over year, up from a 5.5 percent annual gain in November.

Standard & Poor's/Case-Shiller reported Tuesday that its 20-city index of home prices rose 3 percent in September compared with the same month last year. Prices also gained 3.6 percent in the July-September quarter compared with the same quarter in 2011.

Home prices rose in August in nearly all U.S. cities, and many of the markets hit hardest during the crisis are starting to show sustained gains. The increases are the latest evidence of a steady housing recovery.

U.S. home prices fell for a third straight month in nearly all cities tracked by a major index. The declines show that most homeowners are not reaping the benefits from some signs of an improving housing market. Prices dropped in November from October in 19 of the 20 cities tracked, according to the Standard & Poor's/Case-Shiller home-price index released Tuesday.

Home prices rose in August in half of major cities measured by a private survey, a sign that prices are stabilizing in some hard-hit portions of the country. The Standard & Poor's/Case-Shiller index showed Tuesday that prices increased in August from July in 10 of the 20 cities tracked.

Real estate bulls are relishing this week's fresh housing data: The Case-Shiller Index showed a 3.6% sequential uptick during the second quarter. Good news, to be sure, but home prices still fell during the first half of the year, and the trends in real estate don't look good for homeowners.